Global Blood Therapeutics (GBT) Stock Rating Reaffirmed by Wedbush
Global Blood Therapeutics (NASDAQ:GBT)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued on Friday. They currently have a $73.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 101.38% from the stock’s previous close.
GBT has been the subject of several other research reports. BidaskClub raised Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Needham & Company LLC assumed coverage on Global Blood Therapeutics in a research note on Wednesday, September 20th. They issued a “buy” rating and a $51.00 price target for the company. Morgan Stanley reissued an “overweight” rating and issued a $56.00 price target (up previously from $51.00) on shares of Global Blood Therapeutics in a research note on Friday, October 6th. Zacks Investment Research raised Global Blood Therapeutics from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, October 10th. Finally, Oppenheimer set a $53.00 price target on Global Blood Therapeutics and gave the company a “buy” rating in a research note on Wednesday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $62.07.
Shares of Global Blood Therapeutics (NASDAQ:GBT) traded down $3.15 on Friday, reaching $36.25. The company’s stock had a trading volume of 3,989,802 shares, compared to its average volume of 1,041,337. Global Blood Therapeutics has a fifty-two week low of $13.35 and a fifty-two week high of $45.85.
In other Global Blood Therapeutics news, Director Charles J. Homcy sold 70,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $33.97, for a total value of $2,377,900.00. Following the transaction, the director now owns 83,328 shares in the company, valued at $2,830,652.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jung Choi sold 3,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $30.00, for a total value of $90,000.00. Following the completion of the transaction, the insider now owns 140,055 shares in the company, valued at approximately $4,201,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,500 shares of company stock worth $3,003,350. 5.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in GBT. State Street Corp boosted its holdings in Global Blood Therapeutics by 217.9% in the second quarter. State Street Corp now owns 2,138,323 shares of the company’s stock worth $58,479,000 after acquiring an additional 1,465,595 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Global Blood Therapeutics by 189.5% in the third quarter. Point72 Asset Management L.P. now owns 2,022,700 shares of the company’s stock worth $62,805,000 after acquiring an additional 1,323,934 shares in the last quarter. Janus Henderson Group PLC bought a new position in Global Blood Therapeutics in the second quarter worth approximately $26,919,000. BlackRock Inc. boosted its holdings in Global Blood Therapeutics by 30.0% in the second quarter. BlackRock Inc. now owns 3,404,538 shares of the company’s stock worth $93,114,000 after acquiring an additional 785,691 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Global Blood Therapeutics by 15.7% in the second quarter. Vanguard Group Inc. now owns 2,933,251 shares of the company’s stock worth $80,224,000 after acquiring an additional 397,271 shares in the last quarter. Institutional investors and hedge funds own 90.48% of the company’s stock.
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About Global Blood Therapeutics
Global Blood Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in discovering, developing and commercializing therapeutics to treat blood-based disorders. The Company is developing its initial product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease (SCD).
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